Without a follow-through day in the mix yet, we are still tracking our short-sale targets here. AMZN is pushing up towards its 200-dma at around 200, AAPL is pushing up into potential resistance at its 50-dma at around 392-393, CRM is pushing up into the bottom of the gap-down move or "falling window" of November 18th at around 120, and BIDU has pushed right up into its 200-dma at around the 135 level.
TIBX may be on the right side of a Punchbowl of Death or POD formation. A short here would use the 20-day moving average at 28.18 as a guide for an upside stop.
We are and will continue to test shorts into this rally as long as the action is 1) within the boundaries of where we think logical rallies will go to, and 2) the market is not in a bona fide and confirmed rally phase. A follow-through day would, of course, provide evidence for 2), but this may turn out to be a market of stocks rather than a stock market where one can focus on individual names.
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